Rochester, WA 98579 - Thurston County

1,925 Acre Black River Tree Farm

Thurston County, Washington

Zoning: Rural R 1/20

SEALED BIDS DUE SEPTEMBER 14, 2021

The 1,925 acre Black River Tree Farm is 22 miles south of Olympia, along the I-5 corridor. It has excellent access to wood product mills in Tacoma, Olympia, Shelton, Aberdeen, Centralia, Morton, Longview, and Kalama, and export yards and dock facilities in Olympia, Tacoma, Aberdeen, and Longview. The 2,458 acre Elk River Tree Farm is less than 30 miles from wood product facilities in both Aberdeen and Raymond, and the export dock at Port of Grays Harbor. There are fifty miles of rocked logging roads, providing year-round logging for both properties. Both are SFI-certified, and have been operated as commercial tree farms for over fifty years, using even-aged timber management.

The 1,925 acre Black River Tree Farm may be one of the largest blocks of private timberland ownership having residential zoning along the I-5 corridor, and within a 20-minute of drive of Olympia, the Washington State Capitol.

Zoning will allow up to 95 home sites, providing opportunity for a planned real estate development to be clustered on a portion of the property, and the balance managed as a tree farm. Zoning also provides an option to obtain value from a Conservation or Working Forest Easement by extinguishing these development rights.

The property is one contiguous block of ownership that extends two miles north to south, and over one and a half miles east to west, with no rights for public access. It is bisected by Shaner Creek, tributary to Black River. Topography is primarily gentle to rolling north and west facing slopes, with 25.4 miles of well-maintained rock logging roads and no RMAP obligations. One culvert on Shaner Creek needs to be installed in order to access the logging road system in the northwest section of the property. An estimated 90% of the tree farm is suitable for ground-based logging.

There have been no harvest activities over the last fifteen years. 73% of the property, or 1,113 acres, has well-stocked Douglas-fir stands in the 26- to 41-year age class.

Black River Tree Farm has an estimated 18.2 million board feet, with 95% Douglas-fir and the balance mostly western hemlock and red alder. Precommercial thinning was undertaken on 454 acres over the last 7 to 10 years which, in combination with the highly productive growing sites, and amount of well-stocked stands in the 26- to 41-year age class, has created significant asset growth in fifteen years.

Timber volume is expected to increase from 18.2 million board feet to 52.3 million board feet by 2036, a 286% increase in volume, with opportunity for near-term cash flow from 89 acres of 36- to 41-year age class.

Black River Tree Farm is located in one of Western Washingtons most competitive log markets, with excellent access to wood product facilities in nearby Centralia, Tacoma, Shelton, Morton, Longview and Kalama, operated by Sierra Pacific Industries, Manke Lumber, Weyerhaeuser, Interfor, Northwest Hardwoods, Alta Forest Products, Hampton Affiliates, and RSG.

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